As in similar to the way srvx/x3 deals with hostmasks and authing?
Indeed. As well as GNUworld, CServe/Uworld (from the 90's even), old K9 from ChatNet (again from the 90's).
DALnet still uses /cs identify
GNUworld even hostmask protects CServices access as well, although the default mask is *@*.
Atheme also takes additional steps (/os identify) to protect sensitive access. Although it don't require a channel password either.
It seems to me that Anope is taking security out, not improving upon it. It's sad that I have software from several years before Anope was forked that is more secure when it comes to *Serv access. Thank goodness we have 5 encryption methods to choose from though.